IC38 EXAM INSURANCE AGENTS

(GENERAL INSURANCE ) 

SYLLABUS Of IC 38 for Non LIFE Insurance Agent

IC38 EXAM INSURANCE AGENTS (GENERAL INSURANCE ) 

Whole syllabus has been divided in 3 SECTIONS .Every section is Important to Pass IC 38 IRDA exam if you are going to give exam. 

SECTION I 

CHAPTER 1: INTRODUCTION TO INSURANCE: 

This Chapter Deals with Life insurance – History and evolution – History of insurance – Insurance through the ages – Modern concepts of insurance – History of insurance in India – Life insurance industry – How insurance works – Risk management techniques – Risk avoidance – Risk retention – Risk reduction and control – Risk financing – Insurance vs Assurance – Insurance as a tool for managing risk – Considerations before opting for Insurance – Role of insurance in society – Insurance and Social Security. 

CHAPTER 2: CUSTOMER SERVICE:

This Chapter Deals with General concepts – Why Customer Service – Quality of service – Customer service and insurance – Insurance agent’s role in providing great customer service – The Point of Sale – Best advice – The proposal stage – Acceptance stage – The claim stage – Grievance redressal – Integrated Grievance Management System (IGMS) – The Consumer Protection Act, 1986 – The Insurance Ombudsman – Communication process – Non-verbal communication – Ethical behaviour. 

CHAPTER 3: GRIEVANCE REDRESSAL MECHANISM: 

This Chapter Deals with Consumer courts, Ombudsman – Integrated Grievance Management System (IGMS) – The Consumer Protection Act, 1986 – The Insurance Ombudsman. 

CHAPTER 4: REGULATORY ASPECTS OF INSURANCE AGENT:

This Chapter Deals with Definitions- Appointment of Insurance Agent by the Insurer- Appointment of Composite Insurance Agent by the insurer- Insurance Agency Examination- Disqualification to act as an Insurance Agent- Code of Conduct- Suspension of Appointment of an Agent- Procedure for Cancellation of Agency- Effect of suspension/cancellation of Agency appointment- Procedure to be followed in respect of resignation/surrender of appointment by an insurance agent- General conditions for appointment of Agents by the insurer- 

CHAPTER 5: LEGAL PRINCIPLES OF AN INSURANCE CONTRACT:

This Chapter Deals with Insurance contracts – Legal aspects and special features – Legal aspects of an insurance contract – Elements of a valid contract – Insurance contracts – Special features – Uberrima Fides or Utmost Good Faith – Measures implemented to reduce the risk – Breach of Utmost Good Faith – Insurable interest – Gambling and insurance – Proximate Cause – Contract of Adhesion – Indemnity – Subrogation. 

SECTION 2 

CHAPTER 6: 

This Chapter Deals with PRINCIPLES OF INSURANCE: Elements of Insurance: – Definition – Exposure to risk – Degree of risk exposure – Basis of risk classification- Hazard – Types of hazards – Mathematical principle of insurance (Risk pooling) – Conditions for insuring a risk – The Insurance Contract – Insurance Contract legal aspects – Special Features –Indemnity – Uberrima Fides or Utmost Good Faith – Insurable interest – Proximate cause 

CHAPTER 7:

This Chapter Deals with  DOCUMENTATION: Proposal forms – Roe of Role of intermediary – Duty of an intermediary towards prospect – Acceptance of the proposal – Premium receipt – Cover notes-Certificate of Insurance – Policy Document – Warranties – Endorsements – Interpretation of policies – Renewal notice 

CHAPTER 8: 

This Chapter Deals with THEORY AND PRACTICE OF PREMIUM RATING: – Underwriting basics – Definition – Rate making basics – Rating factors – Hazard – Moral Hazard – Physical hazard – Addressing physical hazards – Short Period scales – Minimum Premium – Sum Insured – Deciding the sum insured 

CHAPTER 9:

This Chapter Deals with PERSONAL AND RETAIL INSURANCE: HOUSEHOLDER’S INSURANCE: – Retail Insurance Products – Sum Insured and Premium – Shopkeeper’s Insurance – Sum Insured and Premium – Motor Insurance – Its coverages – ‘Third-Party Insurance’ – Exclusions – Sum Insured and Premium. 

CHAPTER 10:

This Chapter Deals with COMMERCIAL INSURANCE: PROPERTY / FIRE INSURANCE: – Variants of fire policy – Market Value or Reinstatement Value Policies – Declaration Policy – Floater Policies – Business Interruption Insurance – Coverages – Burglary Insurance – Risks covered under burglary insurance – Cash cover – Money Insurance – Coverage of Money Insurance – Important exclusions – Fidelity Guarantee Insurance – Bankers Indemnity Insurance – Jewelers’ Block Policy – Engineering Insurance – Types of engineering insurance policies – Marine Insurance – Marine Cargo Insurance – Different types of marine policies – Liability Policies – Statutory liability – Types of Liability Policies. 

CHAPTER 11:

This Chapter Deals with  CLAIMS PROCEDURE: Claims Settlement process – Importance of settling claims – -limitations or notice of loss – Investigation and assessment – Surveyors and loss assessors – Claim forms – Loss assessment and claim settlement – Important Aspects in an insurance claims – categories of claim – Discharge vouchers – Post settlement action – Selvage – Recoveries – Disputes related to claims – Other disputes resolution mechanisms 

SECTION 3 

CHAPTER 12:

This Chapter Deals with  INTRODUCTION TO HEALTH INSURANCE: What is health care – Definition of Health Determinants of Health – Levels of Healthcare – Levels of health care – Types of health care – Factors affecting the health systems in India – Evaluation of health insurance in India – Employees State Insurance Scheme – Central Government health scheme – Commercial health insurance – Health Insurance Market – Infrastructure Public health sector – Private sector providers – Pharmaceutical industry – Insurance Providers – Intermediaries – Insurance selling activities – Insurance Servicing activities – financial product distribution – Other important organizations which form part of the health insurance market. 

CHAPTER 13:

This Chapter Deals with INSURANCE DOCUMENTATION: Proposal forms – Standard form of Declaration – Nature of questions in a proposal form – Elements of Proposal – Medical Questionnaire – Role of intermediary – Duty of an intermediary towards prospect (client) – Acceptance of the Proposal –(Underwriting) – Note on underwriting and processing of proposals – Premium receipts – Definition – Payment of premium in advance – Method of payment of premium – Policy Document – Conditions and warranties – Endorsements – Specimen Endorsements – Interpretation of policies – Renewal Notice – Anti –Money laundering and know your customer guidelines 

CHAPTER 14: 

This Chapter Deals with HEALTH INSURANCE PRODUCTS: Classification of health insurance product – Introduction – Definition – Features of health policies – Broad classification of health insurance products – IRDA guidelines on standardization in health insurance – Hospitalization indemnity product – Top up covers or high deductible insurance plans – Senior citizen policy – fixed benefit covers – hospital cash – critical illness – hospital daily cash policy – critical illness policy – long term care insurance – combi-products – Package policies – Micro insurance and health insurance for poor sections – Rashtriya Swasthya Bima Yojana – Pradhan Mantri Suraksha Bima Yojana – Pradhan Mantri Jan-Dhan Yojana – Personal accident and disability cover- overseas travel insurance – Group health cover – Special products – Key terns in health policies 

CHAPTER 15: 

This Chapter Deals with HEALTH INSURANCE UNDERWRITING: What is Underwriting – Definition –need – Underwriting basic concepts – File and use guidelines – Other health insurance regulations of IRDAI – Basic Principles of Insurance and tools for underwriting -Underwriting process – Group health insurance – Underwriting of overseas travel insurance – Underwriting of personal accident insurance 

CHAPTER 16:

This Chapter Deals with HEALTH INSURANCE CLAIMS: Claims management in insurance – stakeholders in claim process – Role of claims management in insurance company – Management of health insurance claims – Challenges in health insurance – claims process in health insurance – Documentation of health insurance claims – Claims reserving – Role of third party administrators – Claims management –personal accident – overseas travel insurance .

These are the new updated syllabus.

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